Assenagon Asset Management S.A. Purchases 89,025 Shares of FedEx Co. (NYSE:FDX)

Assenagon Asset Management S.A. boosted its stake in shares of FedEx Co. (NYSE:FDX) by 1,289.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 95,929 shares of the shipping service provider’s stock after purchasing an additional 89,025 shares during the period. Assenagon Asset Management S.A.’s holdings in FedEx were worth $26,254,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. SeaCrest Wealth Management LLC lifted its stake in shares of FedEx by 0.6% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 5,615 shares of the shipping service provider’s stock worth $1,683,000 after buying an additional 34 shares during the last quarter. LRI Investments LLC grew its holdings in shares of FedEx by 8.6% during the 2nd quarter. LRI Investments LLC now owns 455 shares of the shipping service provider’s stock worth $137,000 after purchasing an additional 36 shares in the last quarter. Ascent Wealth Partners LLC lifted its position in FedEx by 0.5% during the second quarter. Ascent Wealth Partners LLC now owns 7,690 shares of the shipping service provider’s stock worth $2,306,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC raised its position in FedEx by 2.4% during the second quarter. Detalus Advisors LLC now owns 1,602 shares of the shipping service provider’s stock valued at $480,000 after purchasing an additional 37 shares in the last quarter. Finally, Sachetta LLC lifted its stake in FedEx by 29.1% during the second quarter. Sachetta LLC now owns 164 shares of the shipping service provider’s stock worth $49,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.3 %

FDX stock opened at $272.12 on Friday. FedEx Co. has a 12 month low of $224.69 and a 12 month high of $313.84. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company has a market cap of $66.96 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.06 and a beta of 1.17. The firm has a 50-day moving average of $279.10 and a two-hundred day moving average of $274.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, September 19th. The shipping service provider reported $3.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.82 by ($1.22). The firm had revenue of $21.58 billion for the quarter, compared to analyst estimates of $21.87 billion. FedEx had a return on equity of 15.61% and a net margin of 4.62%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.55 EPS. As a group, analysts forecast that FedEx Co. will post 19.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, September 9th. FedEx’s payout ratio is 32.04%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bernstein Bank boosted their target price on shares of FedEx from $305.00 to $337.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Robert W. Baird lowered their price target on shares of FedEx from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Citigroup assumed coverage on shares of FedEx in a research note on Wednesday, October 9th. They issued a “buy” rating and a $301.00 price objective on the stock. StockNews.com raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. Finally, UBS Group dropped their price target on FedEx from $333.00 to $311.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average target price of $314.17.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.